The European Commission has launched its first set of green activities and its technical screening criteria, while enlarging the scope of the Non-Financial Reporting Directive to apply to all European listed companies.
Post-Brexit, Luxembourg has set up a national regime with the UK, now a third country, under which certain investment services can be provided to professional clients within the Grand Duchy. Asset News looks at the technical details of this ‘equivalence’ and its wider impact.
However, increasing the powers of the European Securities and Markets Authority (ESMA), which completed a decade on 1 January 2021, will be critical for supervisory convergence of Europe’s fragmented markets – a key component of the capital markets union (CMU).
The European Commission has yielded under political pressure from several countries calling for the inclusion of gas power plants as sustainable investments in the draft sustainable finance taxonomy rules, which it has accepted, much to the chagrin of scientists, NGOs and financial institutions.

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